Market Overview

UPDATE: Nomura Reiterates on Signet Jewelers Ltd. Following Acquisition of ZLC

Related SIG
Firms Are Initiating Coverage On Coach, But Are There Better Alternatives?
Top 4 Stocks In The Jewelry Stores Industry With The Highest Operating Margin

In a report published Monday, Nomura analyst Simeon Siegel reiterated a Buy rating on Signet Jewelers Ltd. (NYSE: SIG), and raised the price target from $85.00 to $115.00.

In the report, Nomura noted, “SIG's acquisition of ZLC propels the company to an even greater position of dominance within the low- to mid-tier market. In this report, we outline our pro forma EPS expectations, digging into EBIT & NOL benefits & the ensuing interest expense. Despite questions regarding store-saturation, the deal should drive meaningful accretion ($10+ of EPS in 3rd year post merger) and as such, reit our Buy rating despite the meaningful run (shares are +34% over the past 6 months vs the S&P500 +9%).”

Signet Jewelers Ltd. closed on Friday at $94.34.

Latest Ratings for SIG

DateFirmActionFromTo
Nov 2014BarclaysMaintainsOverweight
Nov 2014Deutsche BankMaintainsBuy
Nov 2014BarclaysMaintainsOverweight

View More Analyst Ratings for SIG
View the Latest Analyst Ratings

Posted-In: Nomura Simeon SiegelAnalyst Color Price Target Analyst Ratings

 

Related Articles (SIG)

Around the Web, We're Loving...

Get Benzinga's Newsletters